SEVERNA PARK HOUSING MARKET DATA

With relatively few transactions, there was a decrease in total units sold in January, with 15 sold this month in Severna Park Real Estate. This month's total units sold was higher than at this time last year, an increase from January 2024.

Versus last year, the total number of homes available this month is lower by 8 units or 28%. The total number of active inventory this January was 21 compared to 29 in January 2024. This month's total of 21 is higher than the previous month's total supply of available inventory of 19, an increase of 11%.

Last January, the median sale price for Severna Park Homes was $644,000. This January, the median sale price was $750,000, an increase of 16% or $106,000 compared to last year. The current median sold price is 11% higher than in December.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In January, there was 1.4 months of supply available in Severna Park, compared to 2.4 in January 2024. That is a decrease of 42% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 14 homes newly listed for sale in Severna Park compared to 20 in January 2024, a decrease of 30%. There were 11 current contracts pending sale this January, consistent with the volume a year ago. The number of current contracts is 8% lower than last month.

In January, the average sale price in Severna Park was 99.5% of the average list price, which is 1.5% lower than at this time last year.

This month, the average number of days on market was 27, higher than the average last year, which was 21, an increase of 29%.





FOCUS ON: SEVERNA PARK HOUSING MARKET			JANUARY 2025

Zip Code(s): 21146
Units Sold 15	Active Inventory 21	Median Sale Price $750,000	Days On Market 27

Up Vs. Year Ago	Down -28% Vs. Year Ago	Up 16% Vs. Year Ago	Up 29% Vs. Year Ago


		Units Sold With relatively few transactions, there was a decrease in total units sold in January, with 15 sold this month in Severna Park Real Estate. This month's total units sold was higher than at this time last year, an increase from January 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 8 units or 28%. The total number of active inventory this January was 21 compared to 29 in January 2024. This month's total of 21 is higher than the previous month's total supply of available inventory of 19, an increase of 11%.
		Median Sale Price Last January, the median sale price for Severna Park Homes was $644,000. This January, the median sale price was $750,000, an increase of 16% or $106,000 compared to last year. The current median sold price is 11% higher than in December. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 14	Current Contracts 11	Sold Vs. List Price 99.5%	Months of Supply 1.4

Down -30% Vs. Year Ago	No Change Vs. Year Ago	Down -1.5% Vs. Year Ago	Down -42% Vs. Year Ago


		Months of Supply In January, there was 1.4 months of supply available in Severna Park, compared to 2.4 in January 2024. That is a decrease of 42% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 14 homes newly listed for sale in Severna Park compared to 20 in January 2024, a decrease of 30%. There were 11 current contracts pending sale this January, consistent with the volume a year ago. The number of current contracts is 8% lower than last month.
		Sale Price to List Price Ratio In January, the average sale price in Severna Park was 99.5% of the average list price, which is 1.5% lower than at this time last year. Days on Market This month, the average number of days on market was 27, higher than the average last year, which was 21, an increase of 29%.


	Severna Park are defined as properties listed in zip code/s 21146.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.